Markets enjoying the 103rd day of "imminent" US-Iran peace deals:
US household wealth has risen at a spectacular rate in the 2020s:
It was Hegseth’s hot air
markets wanting to eat the TACO, but not sure it really exists
Well put (as always). The dollar’s trading as if near-term tail risks have been slightly reduced, but otherwise no game-changer for the Fed’s policy trajectory.
Note that this is exactly what markets and business leaders expected. Doesn't mean the deal is off, just that there's lots of jawboning ahead: www.bloomberg.com/news/article...
Even as Trump talks up an invasion of Iran he also says the nation might not have the appetite for a bigger version of his war. This is the state of American diplomacy now, spitballing on the TV.
Sometimes life seems a bit absurd, methinks, as I watch the Governor of the Bank of Canada on TV explaining to everyone why he did nothing whatsoever today, a decision that hundreds of Bank economists had laboured many hours over and is exactly what almost all economists expected him to do.